Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,404 shares of the business services provider’s stock after purchasing an additional 70 shares during the quarter. New York Life Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $3,935,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Walter Public Investments Inc. raised its position in shares of Broadridge Financial Solutions by 0.6% in the 4th quarter. Walter Public Investments Inc. now owns 74,464 shares of the business services provider’s stock worth $16,836,000 after buying an additional 427 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Broadridge Financial Solutions by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,025 shares of the business services provider’s stock worth $2,267,000 after buying an additional 70 shares during the period. Argonautica Private Wealth Management Inc. raised its position in shares of Broadridge Financial Solutions by 4.7% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,686 shares of the business services provider’s stock worth $381,000 after buying an additional 75 shares during the period. Advisor OS LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $256,000. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $233,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,151 shares of company stock valued at $5,166,162. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Trading Up 1.6 %

NYSE:BR opened at $241.26 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47. The firm has a market capitalization of $28.23 billion, a PE ratio of 37.76 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The business’s 50-day moving average is $233.85 and its two-hundred day moving average is $224.27.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the business earned $0.92 EPS. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.